Dear Hiten My apologies for not responding earlier, but we have...

Dear Hiten

My apologies for not responding earlier, but we have been exceedingly busy.

On the negotiations front, all I can say is that we will provide further details when we are able to do so.

Please be advised that Richmond is not a drilling company. Any drilling requirements that we may need will be undertaken by suitably qualified and experienced contract drillers.

Richmond has a range of funding options that it will investigate for the development of the Buena Vista Iron Ore Project. These options may include debt finance, equity finance or a combination of both. The feasibility study will determine the level of capital required for the development of the project.

Kindest regards

Mike